iCapital® Network Acquires Wells Fargo Alternative Investments Feeder Fund Platform
Summary
As a part of the transaction, Wells Fargo is making a strategic investment in iCapital under the terms of iCapital’s latest fundraising round. “We are enormously excited to forge this partnership with Wells Fargo as another important milestone on our mission to create the industry standard technology solution for private investments,” said Lawrence Calcano, Chairman and Chief Executive Officer of iCapital Network. As part of the transaction, iCapital will offer employment to a team of Wells Fargo employees who currently support operations for the GAI Feeder Fund Platform. Its financial technology platform has transformed the way alternative investments are bought and sold through the development of tech-based solutions for advisors, their high-net-worth client base, asset managers, and banks. The firm’s flagship platform offers advisors and their clients access to a curated menu of private equity and hedge funds at lower minimums with a full suite of due diligence and administrative support in a secure digital environment.